Overview
Bitcoin’s price fell to $88 000 on the day of the report, dropping below the $89 000 mark for the first time since early 2023. The decline also dragged Ether to $3 092, a 4.3 % loss after a two‑day gain streak. The fall in digital asset prices has intensified pressure on Bitcoin‑mining operations worldwide, pushing many operators toward unprofitability.
Bitfarms’ Strategic Shift
Bitfarms Ltd. of Canada, listed on the Toronto Stock Exchange, is a cryptocurrency‑mining company that supplies computing power to networks such as Bitcoin. On 11 December 2025 the company announced a pivot of a substantial portion of its mining infrastructure toward artificial‑intelligence (AI) and high‑performance computing (HPC) services. The move involves re‑using the energy‑heavy facilities that previously supported Bitcoin mining for AI workloads, a strategy that has already secured contracts totaling over USD 43 billion.
Key points of the announcement:
| Item | Detail |
|---|---|
| Company | Bitfarms Ltd. (CAN: BFM) |
| Current share price | 4.04 CAD (close 10 Dec 2025) |
| Market capitalization | 2.35 billion CAD |
| P/E ratio | –22.35 (negative earnings) |
| New focus | AI/HPC services |
| Contract value | > USD 43 bn |
| Geographic base | Quebec, Canada |
The pivot is part of a broader trend in the sector, as Bitcoin miners seek alternative revenue streams when hash revenue falls.
Industry Context
The downturn has led to a near 8 % drop in network hashrate, according to the Hashrate Index. Median costs to mine—including capital and financial expenses—remain above the current hash price, leaving most publicly traded miners operating at a loss. Bloomberg and the Financial Post have reported that miners are scaling back energy‑hungry rigs and exploring conversions to AI or renewable‑powered data centers.
HIVE Digital Technologies, a U.S. Bitcoin‑and‑AI infrastructure firm, announced a new listing in Colombia and is converting Tier‑I Bitcoin sites into Tier‑III+ liquid‑cooled HPC data centers. These developments underscore a sector‑wide shift toward AI and renewable energy.
Financial Impact on Bitfarms
Bitfarms’ share price has fluctuated within a 52‑week range of 0.96 CAD to 9.27 CAD, reflecting volatility in both the crypto market and investor sentiment toward mining profitability. With a negative P/E ratio, the company’s earnings are currently below break‑even for traditional valuation metrics. By diversifying into AI, Bitfarms aims to create a more stable revenue base that is less sensitive to Bitcoin price swings.
Conclusion
The sharp decline in Bitcoin and Ethereum prices has intensified financial strain on mining firms. Bitfarms Ltd. is responding by reallocating a significant portion of its mining assets to AI and HPC services, securing multi‑billion‑dollar contracts. This strategic realignment aligns with broader industry movements toward renewable‑powered data centers and diversified revenue streams, positioning Bitfarms to mitigate the impact of continued crypto market volatility.